Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-10-12
I'd EDITION.
--latest 2SlGgIanS to The Star.
MIR. GARRETT RESIGNS.
HE Resignation Accepted, The Teles
graph Deal Ratified, and q Dividend
Passed.

BALrndoRE, october 1.-the monthly meeting OF
the directors of the Baltimore and Ohio Railroad
CO., was held to-day. The frst business was let.
ter from Mr.. Robert Garrett resigning the presi-
dency OF the company, as follows:
That IL has been TO- some time my liked desire and
intention to withdraw when properly could, from
pne dsgcrs Which nave Geen IMPOSED upon me 6y
and OHIO Railroad Co. But, as you are also aware,
the policy and undertakings or the company,
cepted the prssidency. We're such as to render It
improper for me, with cue regard to the interests
Involved, TO withdraw IRON their prosecution.
Now, however that arrangements have been made
which, as hope and believe. will secure many OF
the ends for which We have so long struggled, and
the business and finances OF the company being
position to tender you as do hereby, my resigna-
ton as president OF the company. thank you for
the courtesy and consideration which you have
uniformly extended 10 me, and trust you viii be
able. within brief period, TO tx upon the proper
person to whom ] may surrender the trust with
fully, ROBERT GARNET.
THE RESIGNATION ACCEPTED.
Complimentary remarks to Mr.. Garrett were
made BY Judge Dob6ln, on behalf OF the Johns
on the part OF the city Of Baltimore, after which
the resignation was accepted.
The following resolution was then offered and
"hesotoed, That in accepting the resignation by
Mt. Robert Garrett OF the presidency Of this CON-
earnest has been his desire TO withdraw from the
exacting duties OF the once and how imperative,
up this time, has been the necessity that he should
not do 50. Many OF the measures OF policy, whose
whose completion was undertaken when he be-
came president, have been pursued with difficulty
and peril, till thus success is no Ion
ger doubtful. We appreciate the fact
that this result has been largely
due to his courage and unsellish devotion to the
cOmpany'S interest, and congratulate him upon
the fact that In leaving the Office ut this time he
not only does so with the affection aud respect or
all those connected with the company, but with a
recognition BY all those acquainted with 1t OF how
great have been the services he has rendered"
THE TELEGRAPH TRANSFER ENDORSED.
The contract for the transfer OF the Baltimore
and Ohio telegraph to the Western Union Co. was
approved without dissent. A resolution was
adopted that no dividend be declared from the
earnings OF the main stem for the past SIX months,
and declaring q dividend OF i've per cent from the
earnings OF the Washington branch.
The arrangements now In progress with the syn
dicate to relieve the road OF Its Indebtedness were
have progressed All the legal papers are In
preparation and it is expected they viii oe laid be-
fore the board at the annual meeting In November.
Mr.. Robert Garrett was elected q director In the
company, In place OF Jno. Spear Nicholas, 0e-
ceased.
ANOTHER SLUMP IN THE BALTIMORE AND ONO STOCK.
on the main stem bad been passed created con-
siderable CONSERVATION, and Immediately after
forty Ave shares or the stock sold at lis. II was
confidently expected last night that a dividend OF
3 or per cent on the main stem would be de-
clared.